Musk’s xAI Joins Microsoft-BlackRock $30 Billion AI Fund (1)

March 19, 2025, 2:49 PM UTC

Microsoft Corp., the biggest backer of Sam Altman’s OpenAI, and BlackRock Inc., which has an executive on the artificial intelligence startup’s board, are joining forces with one of its chief rivals.

Abu Dhabi’s MGX, Microsoft and BlackRock said Elon Musk’s xAI is joining their effort to build $30 billion worth of data centers and other artificial intelligence infrastructure. The AI chipmaker Nvidia Corp., which was already named as a technical adviser to the group when it was announced last year, is also formally joining, according to a statement on Wednesday that didn’t detail member ...

Learn more about Bloomberg Law or Log In to keep reading:

See Breaking News in Context

Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.

Already a subscriber?

Log in to keep reading or access research tools and resources.